Invest the an arranged overdraft, it is possible to later on ask us to improve, reduce or eliminate your restriction at any moment online, by phone or perhaps in a branch.
If you end your overdraft youвЂ™ll have to settle any overdrawn quantity and any interest owed. If you wish to lessen your limitation, youвЂ™ll first want to be sure you bring your borrowing down in the brand new restriction.
To learn more, see our overdrafts web web page to purchase down if youвЂ™re eligible and overdraft expense calculator.
When you start your account, youвЂ™ll have the choice of getting an arranged overdraft. You are able to set your arranged overdraft limitation to your quantity up to the utmost offered.
Initial ВЈ25 is interest free. Whatever you borrow above that but inside your arranged or overdraft that is unarranged will soon be charged interest at 39.9per cent EAR. 7
The cap that is monthly unarranged overdraft interest is ВЈ20.
We now have some tools to help you avoid groing through your arranged overdraft. If you’ve offered us your mobile number, we will give you a text alert in case a re re payment will probably simply take you into an unarranged overdraft. We are going to additionally give that you text alert if there was money that is nвЂ™t enough in your bank account which will make a repayment.
Representative instance: 0% EAR adjustable from the very first ВЈ25, 39.9% EAR adjustable on such a thing above that, providing a rate that is representative ofper cent APR adjustable (assumed arranged overdraft ВЈ1,200).
Overdraft text alerts
WeвЂ™ll send you overdraft text alerts in the event that youвЂ™ve utilized or are due to use an arranged or unarranged overdraft on your account. This will be to assist you monitor your use and tell you exactly what action you can easily try avoid interest.